A key date in any company calendar is the business tax deadline. Knowing when to file business taxes is not only important for ensuring you meet your tax obligations, it can also help with tax planning. For a small business, when to file taxes is one of the most important dates in the business year....
Business tax credits are government incentives designed to support companies of all sizes while encouraging particular behaviours, strategies or investments. They take various forms, including exemptions, allowances, and reliefs, but a common element is they reduce a company’s tax liability. Busin...
If you’ve worked for years growing your business, there may come a time when you want to step back and sell it to someone else. This can be a moment to enjoy the rewards of your endeavour over the years. However, selling a business does come with tax implications you ought to be aware of. [&hellip...
Ensuring your records are accurate and you pay the correct amount of tax is an essential requirement of running a business. Every business and individual registered for self-assessment in the UK is issued with an identifying number to facilitate timely tax reporting. But what is a business tax ID nu...
When comparing business taxes vs personal taxes, it’s important to understand that both individuals and businesses have a range of tax liabilities that they’re required to meet. If you’re an individual who runs a business, then your tax affairs may be more complex than someone who pays tax...
The UK tax system works on a progressive basis, meaning that the more you earn, the more you pay in income tax – which has a significant effect on personal tax allowances over 100k. When you become a six-figure earner, some key changes take place to how you are taxed. Understanding these impli...
If you’re running a business in the UK, you need to ensure you understand and meet all of your tax obligations – such as knowing what taxes business owners need to pay. As a general rule, the larger your business, the more complex your tax affairs are likely to be. That said, even smaller bu...
If you run a business, you’re likely to be already aware there is a wide range of tax-deductible business expenses. Understanding deductible business expenses for taxes is essential if you want to maximise your deductions and reduce your overall tax liability. While not all expenses qualify for ta...
If you’re in business in the UK, then it’s essential that you have a firm grasp on your tax obligations. This is crucial not only for financial planning, but also ensures that you are fully compliant with HM Revenue & Customs (HMRC) regulations. The amount of tax a business pays will depend ...
Anyone operating a business in the UK needs to be aware of the range of different tax obligations that can apply to their activities – such as capital gains tax. Capital Gains Tax (CGT) is one example, and it directly concerns the sale or disposal of any business assets. When a business sells ...